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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (8626)	10/12/1999 10:04:00 PM
From: jeffbas	Respond to of 78688

I just read the Raytheon news, looked at the balance sheet and crossed it off. What troubles me here and with Xerox, both large companies, is that they suggest what could happen to much of the market if disappointments became the order of the day, as in a recession. The only question in my mind is whether the broader market, or our value favorites, can attract some of this money leaving overvalued large cap stocks. I am skeptical as my experience is that smaller companies require at least a neutral large cap environment in order to perform.

To: Madharry who wrote (8626)	10/12/1999 11:07:00 PM
From: Paul Senior	Read Replies (2) \| Respond to of 78688

Armin. Defense industry is down for sure. I've just finished selling my last NOC (Northrup) on scale down. Now looking to get back in. RTN-- would it be class A or B?-- looks good potentially. Don't have the Boeing/plane/radar buildups relationships as with NOC, but with sabre-rattling by China against Taiwan, and North Korea extracting bribes from US while they test launch missiles toward Japan-- RTN strength in missiles is likely to be funded still by our govt. Believe RTN has a big construction business too. Not thrilled with that aspect of it. Esp. is there are price fix contracts. Burnham, the new RTN head guy is one of the Jack Welch (GE) school alumni (I think) and also through Allied Signal (run by Welch alums). That bodes very well for RTN--- for those who link stock performance to management competence. Here and now though, investor patience will be required. Summary: I'll have to look at it too. OT: Yes, Austin is good. Capital of Texas and a cosmopolitan city if you want it to be. Political clout means they get frequent airport flights into/out of. For SI-types (whatever that means), U of Texas and technology hub (microelectronics, DELL) provide pretty good professional lifestyle (no state income taxes. Housing prices are reasonable - they got LAND dontchaknow, but gov. can take some $ away with tax on real estate.) For fun stuff, there's a nearby good lake, lots of music (esp. country and the Austin Sound) and natives can be downright friendly to outsiders, esp. imo to tourists. I'm married, so can't give an opinion on the single lifestyle. Lot of good looking singles around it seems to me. The the surrounding Hill Country is excellent for driving vacations and seeing how the immigrant German/Czech etc. settled the land and have preserved some of their culture. About Austin, my stereotypical opinion is that even Texans who don't like each other's cultures (e.g. Houstonians vs. Dallasites) agree on Austin. They like it. That's my opinion based on a bunch of vacation and business trips there. Paul